Two Wheeler EMI Calculator

EMI Calculator For Your New Two-Wheeler

A two wheeler EMI calculator is a useful tool that helps you calculate your bike loan EMI by considering several factors. With this online tool, you can input your down payment amount, the loan duration, and the interest rate, and it will calculate the EMI amount you need to pay every month, which is with an interest rate or bikes on EMI with 0 interest.

To use this tool, you need to know three variables- the loan principal, the interest rate, and the loan tenure. The loan principal refers to the amount you borrow and must repay, including any applicable interest.

The interest rate is the rate at which interest is charged on the loan principal amount. Finally, the loan tenure refers to the time frame in which the loan amount, together with the interest, must be repaid in equal monthly installments.

There are two methods for calculating bike loan EMI- manual calculation using a formula and automatic calculation with a bike EMI calculator. The latter is faster, easier, and more accurate. It requires you to input three basic inputs: the principal amount, the interest rate, and the loan term.

Benefits of using an EMI calculator

There are many benefits of using a two-wheeler loan EMI calculator.

Firstly, it allows you to check the feasibility of your bike EMI and alter the loan tenure value to find an EMI that works for you.

Secondly, it helps you plan your monthly spending by letting you know your EMI value ahead of time.

Thirdly, it ensures you do not fall behind on your bike loan EMI installments and have enough funds to make your other monthly financial obligations. It can also help you compare and find bikes on EMI with 0 interest.

Finally, it is safe to use because your identity remains confidential, and it eliminates the headaches of handwritten calculations.

How To Get A Bike Loan Without A Down Payment

revolt-rv400-electric-bike

Owning a two-wheeler is no more a luxury today. With the increasing traffic on the roads and the hassles of commuting by public transport, commuting to work daily by your two-wheeler is now a necessity. Buying your dream bike may have been out of your budget till now, but with a two-wheeler loan, you can make this dream turn into a happy reality. What’s more, with a trusted name like Fullerton India, you get a 0 down payment bike loan if you meet their eligibility criteria. You can use their two-wheeler EMI calculator to calculate the EMI applicable on your bike loan. Let us now have a look at the eligibility criteria for getting a 0 down payment bike loan. 

Eligibility To Get A Bike Loan Without A Down Payment

  • The loan applicant’s age should not be less than 18 years when applying for the loan, and under 65 years, at the maturity of the bike loan. 
  • The applicant should be an Indian resident and should have been living at his current address for at least one year. 
  • If you are a salaried employee, you should have a minimum work experience of one year and should meet the conditions as per Fullerton India’s policy when you apply for the loan. 
  • The loan applicant has to submit these documents to be eligible for a 0 down payment bike loan:
  • The last three months’ salary slips for a government employee and salary certificates including the deductions for a private employee.
  • Form 16 copy
  • Copy of Income Tax returns for self-employed applicants.
  • KYC documents. 

By fulfilling the above eligibility criteria, you can get a 0 down payment bike loan from Fullerton India. Further, you can calculate your EMI using their online two-wheeler EMI calculator. 

Additional Read: Know How Two-Wheeler Loans Different from Car Loans?